Bitmain Intros Antminer E3 for Ethereum, GPU Prices Could Finally Cool Down

[Renald]

We mostly export electricity to countries like Great Britain or Italy, Germany, etc.
They don't want to be bad countries who uses nuclear power, but they it, so they make it in some way.

 

[trog100]

We mostly export electricity to countries like Great Britain or Italy, Germany, etc.
They don't want to be bad countries who uses nuclear power, but they it, so they make it in some way.

and its not exactly cheap ether in the UK.. our loss your gain for not producing it ourselves.. he he

just for interest a few year back i do remember some folks in the US complaining about the high cost of their nuclear power electricity.. the folks not that far away paid way less for their old fashioned coal powered supply..

trog

 

[Captain_Tom]

yea - this ASIC is meh compared to those bitcoin ASICs when those came out.
But question for all existing miners who wait for crypto comeback (+200?+300%?):
why dont you just buy crypto then? I mean if you know that "future is here to stay" - sell your mining rig (while it still has close to MSRP some value) and for that $$$ buy and hold that crypto and cash in those +300% later. in case if cryptos will stay as low as now (or probably go even lower - because you see the trend, right?) you will aslo lose lot of value of your existing gpus (you see that all gpus are like -30% of what prices were just 4 weeks ago, right?) and your mined pennies in your crytpos will be even less worth - I mean either you mine or not - you should consider your self and act as a casual crypto trader - your income will be detemined only from crypto daytraders speculation volume not "the future technology".

I would actually like to answer this question, because I don't think "Crypto Daytraders" understand the benefits of mining over buying. Now realize that these points assume you are very good with computers, overclocking, and have cheap energy:

1. No hassle actually getting the coins. No credit card companies saying "no to crypto purchases", no 7 day waiting periods before you can wire money, and no need to give a bunch of personal information online to certain questionable exchanges. Just plug some GPU's in!
2. Substantially less risk! The start up costs are so much less than just "Putting $10K into the market," and you can usually recuperate half of your initial investment simply by selling your hardware.
3. Now this is the big one that I haven't ever seen someone mention: Mining reduces the chances you will make classic "lizard brain" mistakes.

• What happens if the market/difficulty goes up? You make less coin, but more money.
• What happens if the market/difficulty goes down? You make MORE coin, but less money for now.
• You are essentially forced to cost-dollar-average buy into the market over the course of a long time, and you feel less pressure to panic sell or buy.
• Typically a miner will actually go through the trouble of downloading the official wallet of the cryptocoin he is mining. This is ALWAYS more secure than trusting a crypto exchange, and it also gives you a chance to evaluate if you should even bother supporting a project. For instance the Monero wallet made me realize it could never succeed long term in the "Top 10 Coins" because of how incredibly slow and inefficient its blockchain is (Expecting to get some hate for this!).

TLDR: There is a substantial reduction in risk than most people realize, you are more anonymous in how you secure your funds, and mining acts an excellent filter in making sure you know what you are doing when you get into this market.